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D A C E F G H B Total Marginal Marginal Number Total Marginal Marginal Marginal Number Utility Utility per of cans Utility Utility Utility

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D A C E F G H B Total Marginal Marginal Number Total Marginal Marginal Marginal Number Utility Utility per of cans Utility Utility Utility per Utility per of ice Utility cream from from the price of Cola from from the price price ice last cone M.U. Cola Last cola M.U. M.U. cones cream PiceCream PcocaCola PcocaCola cones Price=$2.00 Price=$1.00 Price=$2.00 0 0 0 100 130 N - 180 108 N 244 3 98 288 4 80 320 5 66 6 340 32 346 12 8 344 8 -4 1) Complete columns (C,D,F,H and I) of the table above. (5 points) Assume that the price of Ice cream is $2 per cone and the price of cans of Cola is $1 per can 2) What are all the possible combinations of Ice Cream and Cola available if your budget constraint is $12.00? (3 points) 3) If your budget constraint remains at $12.00, what is the utility maximizing combination of Ice Cream and Cola? (5 points) Assume that the price of Cola increases to $2.00 per can (5 points) 4) If your budget remains at $12.00. What is the utility maximizing combination of Ice Cream and Cola

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